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Global Biometrics-as-a-Service (BaaS) in Healthcare Market Analysis By Solution Type (Fingerprint Recognition, Facial Recognition, Iris Recognition, Voice Recognition, Behavioral Biometrics), By Deployment Model (Cloud-Based, On-Premises) & Forecast

  • PUBLISHED ON
  • 4/3/2023
  • NO OF PAGES
  • 245
  • CATEGORY
  • Healthcare & Life Sciences
Market Overview:
The Biometrics-as-a-Service (BaaS) in Healthcare market was valued at approximately USD 1.2 billion in 2022 and was expected to grow at a CAGR of around 20%.

The Biometrics-as-a-Service (BaaS) in Healthcare market is experiencing rapid growth due to the increasing demand for secure and seamless authentication solutions in the healthcare industry. BaaS is a cloud-based biometric service that enables organizations to implement biometric authentication without investing in expensive hardware and software infrastructure. The trend of digitization in the healthcare industry is driving the adoption of BaaS solutions. The increasing use of electronic health records (EHRs) and telehealth services has created a need for secure and reliable authentication solutions. BaaS provides a convenient and secure way of verifying the identity of patients and healthcare professionals, while also enhancing the patient experience by reducing the need for physical identification documents. Another key trend in the market is the integration of biometric authentication with other technologies such as artificial intelligence (AI) and machine learning (ML). BaaS providers are leveraging these technologies to enhance the accuracy and reliability of biometric authentication solutions, while also reducing the risk of fraud and identity theft. The market is also seeing opportunities in the use of biometrics for remote patient monitoring and clinical trials. BaaS solutions can be used to authenticate patients remotely, allowing healthcare providers to monitor patients' health status and medication adherence without the need for in-person visits. BaaS can also be used in clinical trials to verify the identity of study participants, ensuring the integrity of the trial data. Overall, the Biometrics-as-a-Service (BaaS) in Healthcare market is expected to continue its growth trajectory in the coming years, driven by the increasing adoption of digital healthcare technologies, the need for secure and reliable authentication solutions, and the integration of biometrics with AI and ML technologies.

Report Scope

Report Attributes

Description

Market Size in 2022

USD 1.2 Billion

Market Forecast in 2032

USD 5.3 Billion

CAGR % 2023-2031

20%

Base Year

2022

Historic Data

2019-2021

Forecast Period

2023-2031

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

By Solution Type, By Deployment Model

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

BioID AG, Fujitsu Limited, Gemalto NV, HID Global Corporation, IBM Corporation, Iritech Inc., Leidos Inc., M2SYS Technology, NEC Corporation, Qualcomm Technologies, Inc., SmilePass Ltd., Suprema Inc., Uniphore Software Systems, VoiceTrust GmbH, ZKTeco Inc.


Driver: Growing adoption of cloud-based solutions in healthcare is propelling Biometrics-as-a-Service (BaaS) in Healthcare Market growth.

One market driving factor for the Biometrics-as-a-Service (BaaS) in Healthcare Market is the increasing adoption of cloud-based solutions in healthcare. The healthcare industry is rapidly adopting cloud-based solutions due to their various advantages, such as scalability, flexibility, and cost-effectiveness. Cloud-based solutions also offer easy access to data and applications, making them ideal for healthcare organizations that need to manage large amounts of sensitive patient data. With the increasing demand for cloud-based solutions, the adoption of Biometrics-as-a-Service (BaaS) in healthcare is expected to grow significantly. BaaS solutions provide healthcare organizations with the ability to deploy biometric authentication technology quickly and easily, without the need for extensive hardware or software infrastructure. This is particularly beneficial for smaller healthcare providers or those with limited resources who may not be able to afford the upfront costs of purchasing and implementing their own biometric authentication technology.

Segmentation:
By Solution Type
• Fingerprint Recognition
• Facial Recognition
• Iris Recognition
• Voice Recognition
• Behavioral Biometrics

By Deployment Model
• Cloud-Based
• On-Premises

Geographical Analysis:
The Biometrics-as-a-Service (BaaS) in Healthcare Market can be segmented into different regions, each with its own characteristics and opportunities. Here are some regional insights with market-related examples:
• North America: The North American region dominates the Biometrics-as-a-Service (BaaS) in Healthcare Market due to the increasing adoption of advanced technologies, such as biometrics, in the healthcare sector. For example, in 2019, the US Department of Veterans Affairs implemented a biometric identification system to enhance the security and privacy of patients' health information.
• Europe: The European Biometrics-as-a-Service (BaaS) in Healthcare Market is expected to grow due to the increasing demand for advanced healthcare technologies and the growing need for secure patient identification and data privacy. For example, in 2018, the European Commission funded the development of a biometric identification system to be used in hospitals and clinics for patient identification and record-keeping.
• Asia Pacific: The Asia Pacific Biometrics-as-a-Service (BaaS) in Healthcare Market is expected to grow due to the increasing adoption of digital health technologies and the growing demand for secure and efficient healthcare services. For example, in 2019, India's National Health Stack was announced, which includes the use of biometric identification for patient registration and verification in healthcare facilities.
• Latin America: The Latin American Biometrics-as-a-Service (BaaS) in Healthcare Market is expected to grow due to the increasing investment in healthcare infrastructure and the adoption of advanced technologies in the region. For example, in 2020, the Brazilian government launched a national program to digitize healthcare services, including the use of biometric identification for patient registration and record-keeping.
• Middle East & Africa: The Middle East & Africa Biometrics-as-a-Service (BaaS) in Healthcare Market is expected to grow due to the increasing investment in healthcare infrastructure and the adoption of digital health technologies in the region. For example, in 2020, the Dubai Health Authority launched a biometric identification system to enhance the patient experience and improve the accuracy and efficiency of patient identification and record-keeping in healthcare facilities.

Recent Development: Global Biometrics-as-a-Service (BaaS) in Healthcare Market
• In August 2020, IBM announced that it was acquiring WDG Automation, a Brazilian software provider specializing in robotic process automation (RPA), to expand its AI and cloud capabilities in Latin America. This acquisition is expected to help IBM expand its BaaS offerings in the region.
• In October 2020, HID Global announced its acquisition of Plurilock, a provider of advanced authentication solutions, to expand its identity and access management (IAM) capabilities. HID Global is a major player in the BaaS market and this acquisition is expected to strengthen its position in the healthcare industry.
• In December 2020, Leidos, a major player in the healthcare biometrics software market, announced that it was acquiring 1901 Group, a provider of IT services and enterprise solutions, to expand its cloud and digital modernization capabilities. This acquisition is expected to enhance Leidos' BaaS offerings in the healthcare industry.
• In December 2020, Uniphore Software Systems, a provider of conversational AI and speech recognition technology, announced that it had acquired Emotion Research Labs, a provider of emotion recognition technology, to expand its capabilities in voice biometrics and emotion detection. This acquisition is expected to help Uniphore enhance its BaaS offerings in the healthcare industry.

Company Profiles:
• BioID AG
• Fujitsu Limited
• Gemalto NV
• HID Global Corporation
• IBM Corporation
• Iritech Inc.
• Leidos Inc.
• M2SYS Technology
• NEC Corporation
• Qualcomm Technologies, Inc.
• SmilePass Ltd
• Suprema Inc.
• Uniphore Software Systems
• VoiceTrust GmbH
• ZKTeco Inc.


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Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in Biometrics-as-a-Service (BaaS) in Healthcare Market.

Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.

Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.

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